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The Guardian - AU
The Guardian - AU
Business
Henry Belot

Crypto exchange Binance has Australian financial services licence cancelled by Asic

Binance ASIC United States Crypto Australia Joe Longo Changpeng Zhao Zhao Changpeng CFTC
Zhao Changpeng, founder and chief executive of Binance
Zhao Changpeng, founder and chief executive of Binance, who is being sued in the US by commodity market regulators. Photograph: Benoît Tessier/Reuters

Australia’s financial regulator has cancelled the local financial services licence of the world’s biggest cryptocurrency exchange, Binance.

Earlier this year, the Australian Securities and Investments Commission (Asic) found Binance had incorrectly classified hundreds of retail customers as wholesale investors.

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